mobile payments
Why crypto remittance companies are flocking to Mexico
Mexico is the second-largest recipient of remittances in the world, according to 2021 World Bank statistics. Remittances to the nation jumped to a record $5.3 billion in July, which is a 16.5% increase year-over-year compared to the same period last year. The steady growth presents myriad opportunities for fintech companies. Not surprisingly, droves of crypto companies are setting up shop in Mexico to claim a share of the burgeoning remittance market. Over the past year alone, about half a dozen crypto giants, including Coinbase, have set up operations in the country. In February, Coinbase unveiled a crypto transfer service tailored to United States-based clients looking to send crypto remittances to Mexico. The product enabled recipients in Mexico to withdraw their money in pesos. Other c...
3 Tips to Improve User Experience & Security of African Apps
Entersekt’s Tochukwu Iwuora. Financial institutions are increasingly relying on apps and their turbo-charged cousins, super apps, for much-needed revenue growth. Organisations that can offer a secure, low-friction app experience are more likely to migrate existing customers to digital channels, attract new customers, and lower operational costs, giving them a much-needed competitive advantage in an increasingly competitive market. Africa is one of the fastest-growing app markets in the world, with Nigeria, Kenya, and South Africa showing particularly high growth since the Covid pandemic. With rapid urbanisation, a big improvement in connectivity as well as the fact that smartphone connections in Africa are expected to double by 2025, reaching 678 million, it is reasonable to expect t...
Partying in Davos with Cointelegraph: Crypto card payments accepted
With the World Economic Forum (WEF) Annual Meeting drawing to a close, attendees had the opportunity to join Cointelegraph for a farewell party at Ex Bar in Davos — where they could actually pay for food and drinks using cryptocurrency. The annual meeting of the World Economic Forum is scheduled to take place between May 22–26, with a slew of world leaders expected to attend. What role will blockchain have at the event? https://t.co/wEtEvuVK5I — Cointelegraph (@Cointelegraph) May 20, 2022 Early partygoers had the opportunity to win one of 20 cards loaded with up to 100 Davos Coins, which are pegged one-for-one with the Swiss franc. The winners enjoyed a seamless checkout experience using a new hardware wallet with the look and feel of a regular credit card. Powered by German crypto c...
Brainard tells House committee about potential role of CBDC, future of stablecoins
United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee’s virtual hearing, “On the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC),” that took place Thursday. That was a sound strategic move, considering that more than 25 legislators lined up to ask questions. Brainard’s appearance before the committee came just after the close of the comment period for the Fed’s discussion paper, “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” However, recent events on the stablecoin market played a preemptive role in the framing of her statement. Brainard acknowledged the position of stablecoins in the economy, saying in her written statement. She said: “In som...
Indian central bank’s ‘informal pressure’ disrupted payments: Coinbase CEO
Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank. During Coinbase’s 2022 Quarterly Earnings call, Armstrong spoke about the company’s global expansion plans while acknowledging Coinbase’s role in starting the conversation with regulators related to crypto adoption. When asked about the impact of the recent disruption related to offering payment services in India, Armstrong stated: “So a few days after launching, we ended up disabling UPI because of some informal pressure from the Reserve Bank of Indi...
Dozens of VIP backers invest $87M into crypto payment startup MoonPay
In November 2021, MoonPay announced a $555 million Series A financing round that brought the crypto payment platform’s valuation to $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities in the music, sports, media and entertainment industries. While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. Other “industry VIPs” like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve A...
Alchemy Pay gains 77% after exchange listings and cross-chain integrations
The cryptocurrency ecosystem has come a long way since the launch of Bitcoin (BTC) and in the last few years smart contracts have revolutionized the industry. With that said, there is still plenty of progress to be made when it comes to integrating blockchain technology to peer-to-peer, business to business and business to consumer payment systems. Alchemy Pay aims to further the adoption of cryptocurrencies through its hybrid payments system and in the last week its ACH token gained 77% to trade at $0.0625 on Feb. 9. ACH/USDT 4-hour chart. Source: TradingView Three reasons for the uptick in ACH price include the cross-chain launch of ACH on the Binance Smart Chain (BSC), multiple new exchange listings that have helped expand access to the token and the integration of Alchemy Pay wit...
PayPal stablecoin: What it could mean for payments
PayPal confirmed on Jan. 8 it is “exploring a stablecoin” that could be called PayPal Coin after a developer found evidence of such a stablecoin within the source code of the company’s iPhone app. PayPal senior vice president of crypto and digital currencies Jose Fernandez da Ponte said at the time that if the company plans to move forward with the stablecoin, it will do so while working closely with relevant regulators — an approach that could help the fintech firm avoid the wrath of United States senators that doomed Meta’s Diem cryptocurrency project. The company has clarified that the source code found on its iPhone app was developed in an internal hackathon. When Cointelegraph contacted PayPal to learn more, a spokesperson confirmed the previous reporting but did not offer any additio...
Carry1st Partners with Chipper Cash & PayPal For Digital Payments Across Africa
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3 Payments Trends for Emerging Markets to Keep Eye On in 2022
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Founder of South African Fintech PayFast Resigns
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